Regions Financial (RF) Citi's 14th Annual FinTech Conference summary

Core modernization and technology transformation

• Two major core platforms—lending and deposit—are being modernized, with full deployment targeted for 2026 after extensive testing and integration of a new enterprise API layer.

• Investments extend beyond core systems to digital channels, a new in-house mobile app, authentication, and real-time cloud data stores.

• The API layer enables nimble product launches and supports business strategies, such as expanding small business banking outside traditional branches.

• Early benefits from the API layer will be realized before full core deployment, allowing for digital account origination and unified platforms for associates and customers.

• Modernization is tightly aligned with business strategy, ensuring technology investments directly support growth segments and customer needs.

Data, AI, and risk management

• A product-based approach to AI and machine learning has delivered solutions like Client IQ, providing actionable insights and risk alerts to bankers.

• The Customer DNA platform in the cloud will leverage richer real-time data from the new core to enhance insights.

• Robust data governance and federated ownership across business units ensure high data quality and compliance.

• Comprehensive risk frameworks and responsible use policies have been established for both traditional and generative AI, with controls to prevent data leakage and ensure model integrity.

• Ongoing investments in data management and governance underpin AI initiatives and support regulatory requirements.

Payments innovation and industry positioning

• Offers a full suite of payment services, including legacy and instant payments, and ranks in the top 10 nationally for ACH origination and RTP network participation.

• Early adopter of commercial mobile pay and embedded ERP capabilities, with a state-of-the-art open banking digital marketplace launching soon.

• Sees limited demand for stablecoins but is preparing infrastructure for tokenized deposits and blockchain interoperability, collaborating with The Clearing House on industry-wide solutions.

• Open banking strategy balances customer data rights with fair cost allocation, aiming for transparency and security.